Washington, D.C. – U.S. Representative Dusty Johnson (R-S.D.), Liz Cheney (R-WY), and Frank Lucas (R-OK), introduced the Livestock Risk Management and Education Act, a bill that would provide grants to certain state land-grant universities to better equip livestock producers with risk management training. Cattle Association’s and educators had the following to say:
American Farm Bureau Federation, Scott VanderWal, Vice President:
“Livestock producers are not immune from a tough farm economy. Producers need every tool at their disposal to manage risk and have the market intel available to optimize their ability to weather economic volatility. The Livestock Risk Management and Education Act will help land-grant universities partner with producer associations to make sure more producers have market and risk management information they can trust to make vital business decisions.”
National Cattlemen’s Beef Association, Todd Wilkinson, Policy Division Vice Chairman:
“In a market environment that continues to challenge even the most experienced multi-generational operations, NCBA believes that it is critical for producers to understand their options for managing risk. The Livestock Risk Management and Education Act policy will provide the U.S. Secretary of Agriculture the authority and flexibility to collaborate with industry to ensure that cattle farmers and ranchers have access to those options and the knowledge base to determine which ones are right for their operations.”
South Dakota State University, Daniel Scholl, VP Research and Economic Development:
“This bill strengthens the ability of South Dakota State University and other Land-Grant Universities to provide unbiased third-party research and expertise on livestock market risk management to one of the nation’s high risk food sectors. We look forward to the possibility to develop and deliver cutting edge risk management tools and education programs to livestock producers in partnership with key industry organizations. This should be a win for U.S. livestock growers and for consumers.”
Oklahoma State University:
“Oklahoma cattle producers are facing a great deal of uncertainty in market conditions and production constraints. In these times, farmers and ranchers can benefit from risk management tools that rely on futures markets to offset those conditions. Oklahoma State University Extension assists crop producers in using futures markets to manage risks and would benefit from resources to extend that expertise to livestock producers as well.”
